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Pound (GBP) Suffers as UK Services PMI is Revised Down for March
Published: 7 Apr at 3 PM
The Pound (GBP) fell against the Euro (EUR) and the US Dollar (USD) today following the release of the latest UK Services PMI, which was revised down to 56.3.
However, the UK’s business activity has picked up, with the latest PMI signaling rebound last month.
Howard Archer, the Chief Economic Advisor to EY Item Club,...
Pound (GBP) Rises as UK GDP is Revised Up for Last Quarter of 2020
Published: 31 Mar at 3 PM
The Pound (GBP) rose today after the latest UK GDP report for the fourth-quarter of 2021 was revised up.
However, this was not enough to fully bolster confidence in the UK economy, as the figure had only been slightly revised up to 1.3% from the record slump of 1%.
Today also saw UK House Prices dip by 0.2% in March,...
Pound (GBP) Struggles Despite UK Business Activity Soaring to a 7-Month High
Published: 24 Mar at 12 PM
Pound (GBP) Sinks Despite Covid-19 Vaccine Optimism Buoying Markets
The Pound (GBP) fell against many of its competitors today despite UK business activity growing at its fastest rate since August.
Today’s flash March PMI shows that UK manufacturing and services output had soared to a 7-month high after February’s contraction. ...
US Dollar (USD) Rises as Souring Risk Sentiment Drives Demand for Safe-Haven Currencies
Published: 17 Mar at 2 PM
The Pound (GBP) held steady today as Sterling investors look ahead to Thursday’s Bank of England (BoE) policy decision.
The Bank is largely expected to hold interest rates at 0.1% but following bullish comments from the BoE’s Governor Andrew Bailey – who said he was ‘more positive’ about the outlook for the UK...
Pound (GBP) Steadies as UK Markets Become More Cautious
Published: 10 Mar at 12 PM
The Pound (GBP) stabilised against many of its peers today owing to a dearth of UK economic data.
However, confidence in the UK economy remains high as the nation is set to cautious ease lockdown measures over the next few months.
However, Bank of England (BoE) Governor Andrew Bailey warned that the economy would not...
Pound (GBP) Rises as UK Reveals 2021 Budget
Published: 3 Mar at 4 PM
The Pound rose today following Chancellor Rishi Sunak’s announcement of the 2021 Budget. Sunak confirmed the extension of the furlough scheme until September.
Today also saw news that the Office for Budget Responsibility (OBR) now expects the UK economy to grow by 4% this year owing to a ‘swifter and more sustained...
Pound (GBP) Rises as Outlook for UK Economy Improves Following Lockdown Exit Plan
Published: 24 Feb at 12 PM
The Pound rose today as confidence in the UK economy continues to grow following Prime Minister Boris Johnson’s outline of a lockdown exit strategy earlier this week.
As a result, GBP investors are now more optimistic than before that the nation could be one of the first countries to recover its economy once lockdown...
Euro Struggles Despite 'Light at the End of the Tunnel' for Eurozone Economy
Published: 17 Feb at 2 PM
The Pound continued to rise today owing to growing confidence in the UK’s Covid-19 vaccination programme. Last week saw the UK hit a 15-million milestone in vaccinations, buoying the outlook for the nation’s economy as Downing Street considers the next steps towards easing lockdowns.
Prime Minister Boris Johnson however...
Pound Rises Despite UK Retail Sales Hitting Their Lowest Levels Since May
Published: 9 Feb at 4 PM
The Pound rose today as 18.4% of the UK population have received at least one dose of the Covid-19 vaccine. As a result, UK markets are more optimistic that mass vaccination could help the nation’s economy recover in the months ahead.
However, today saw the publication of the latest UK BRC Retail Sales data for January,...
Euro to US Dollar (EUR/USD) Exchange Rate Hits 2-Month-Worst as USD Rally Continues
Published: 3 Feb at 5 PM
The Euro to US Dollar (EUR/USD) exchange rate has been tumbling since markets opened this week. Investors continue to become more anxious about the Eurozone outlook as the bloc’s coronavirus situation remains gloomy, while the US Dollar benefits from Euro weakness and stronger than expected US data.
After opening last week at the level...